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Dragonfly Capital’s Managing Partner Says Cardano Has Religion Without Technology, Charles Hoskinson Reacts

Albert Brown
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Dragonfly Capital’s Managing Partner Says Cardano Has Religion Without Technology, Charles Hoskinson Reacts

 

Charles Hoskinson gave a sarcastic response to comments about Cardano being more of a religious community. 


In a recent interview, Haseeb Qureshi, the Managing Partner of Dragonfly Capital, disclosed the reason why some of the big players in the cryptocurrency space are disassociating themselves from Cardano. 

Quereshi said “super rich and powerful and extremely attractive people” do not think about investing in Cardano because the project has only religion and no technology. 

“Every investor understands that cryptocurrency is a combination of technology and religion. You have to have both. You can’t just have one,” Quereshi was quoted as saying. 

He said while Cardano has religion, the popular crypto project does not have the necessary technology to attract rich investors. 

“The problem is that if it has only religion without technology, you will become more of a religious community. And technologists are very turned off by that,” he added. 

Cardano Enthusiasts Blast Quereshi

Quereshi’s derogatory comments about Cardano angered supporters of the project, who took to the comment section on Twitter to air their grievances. 

A major Cardano influencer who goes by the pseudonym ADA Whale was among the people who bashed Quereshi for saying Cardano has only religion without technology. 

ADA Whale shared an old tweet from the Cardano development team, Input Output Global (IOG), showing the technological roadmap of the blockchain. 

Cardano Founder Reaction

While many Cardano enthusiasts openly blasted Quereshi for the comment, Charles Hoskinson, Cardano’s founder, responded with a caustic response. 

Hoskinson noted that since Cardano only has religion, they should pack up and leave the project, shut down all research academies, fire all engineers, and buy some religious robes while leaving. 

“Need some volunteers for pricing bulk kool-aid orders,” Hoskinson said, adding: “We might as well shut down all those academic research centers and fire hundreds of engineers while we are at it.” 

Meanwhile, Hoskinson has publicly slammed venture capitalists for not supporting Cardano like other projects. 

However, he noted that since VCs do not want to give Cardano the needed support to push the project to greater heights, the community will rally around to get things done themselves.  

Revolut Adds Support for Cardano Stablecoin Issuer COTI Network (COTI) 

Lele Jima
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Revolut Adds Support for Cardano Stablecoin Issuer COTI Network (COTI) 

 

Revolut, a cryptocurrency-friendly digital banking startup, has expanded its list of cryptocurrency offerings. 



The company noted in an announcement that it added COTI Network’s native cryptocurrency to its financial app. 

“We are pleased to inform you that Revolut has added COTI (ERC20) to its supported crypto offering in their app! Revolut is building the world’s first global financial super-app,” Revolut said. 

Following the announcement, COTI will be made available to Revolut’s customers living in the United Kingdom (UK) as well as the European Economic Area (EEA). 

Revolut Crypto Offerings Surpasses 80 Coins

Revolut has continued to expand its cryptocurrency offerings to include more crypto assets. This comes less than three years after the company announced that it would offer its clients digital currencies. 

With the COTI token added to the list of Revolut’s supported cryptocurrency assets, the company has expanded its crypto offering to more than 80 digital currencies. 

The crypto digital banking startup supports some of the top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). 

Interestingly, Revolut’s users have surged tremendously following the company’s venture into the crypto space. According to Revolut, it has more than 20 million users globally, who conduct over 250 million monthly transactions. 

COTI Network’s Play Active Role in Cardano’s Djed’s Issuance

COTI is the native digital currency of COTI Network, a leading enterprise-grade fintech company based on the Cardano network. 

It is noteworthy that COTI Network was selected last year to become the official issuer of Cardano’s official stablecoin, Djed. Charles Hoskinson, the founder of Cardano, announced in September 2021. 

Since its selection, COTI Network has partnered with numerous projects as part of efforts to bolster the issuance of the algorithmic stablecoin. 

Some of the companies COTI Network has partnered with for the issuance of Djed’s stablecoin include Cardano-based decentralized exchange SundaeSwap and cloud computing platform Iagon, among others. 

Over the past month, COTI announced five new partners that will use the Djed algorithmic stablecoin on their respective platforms. 

F1 Racing Team Aston Martin Now Accepts Crypto Payments For Its Online Store Including Bitcoin, Shiba Inu and Others

Albert Brown
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0
F1 Racing Team Aston Martin Now Accepts Crypto Payments For Its Online Store Including Bitcoin, Shiba Inu and Others

 

F1 Racing Team Aston Martin Adds Support For crypto Payments To Enable Users To Shop On Its Online Store.


It’s a big win for the crypto industry as one of the biggest Formula One teams starts accepting crypto payments.

Crypto has been winning huge support from various economic sectors over the last few years. This is mainly after institutions and governments started recognizing the power of blockchain and crypto technology. Every now and then, crypto makes a debut in a totally new sector. This time around, it’s the Formula One scene. The team’s official website put a detailed announcement to that effect.

Ashton Martin Aramco Cognizant Formula One Team (AMF1) has just announced intentions to start accepting crypto payments on its online store. This means that many pro-crypto people will now be able to buy the team’s merchandise and settle the transactions with cryptos. Visitors who want to start shopping can visit the team’s web page here.

Partnerships To Make It Happen

To make this happen, Ashton Martin has entered into a partnership with Crypto.com and Cube, which are now its official business partners in digital e-commerce. Crypto.com has been adding various cryptos (including Shiba Inu) to its list of supported payment options, which gives a lot of leeway to users who want to pay in cryptos of their choice.

These positive advancements come to a short while after Formula 1 appointed Crypto.com as its official Global Partner for its sprint series schedules. This is already an indication that the racing teams can thrive in the crypto space just as other sectors have. For instance, with Crypto.com as its Global Partner, Ashton Martin will have access to the expansive 50 million user base that could very well spell its financial success in the future. Crypto.com Pay enables customers to pay with more than 20 cryptos, including Bitcoin, Ethereum, Shiba Inu, Doge, Apecoin and more.

What Officials Say

Following the revolutionary announcement, officials from the involved companies have some strong, positive words to say about it. According to the chief marketing officer at crypto.com, Steven Kalifowltz, his company’s  “Our partnership with AMF1 is the perfect case in point, proving just how versatile crypto payments have become. We’re excited to continue our work with AMF1 and to further enable the use of cryptocurrency as a payment method in all situations.”

AMFI head of Licensing and Merchandise, Matt Chapman, also had something to say,

“We are constantly exploring the digital landscape, so it’s hugely satisfying to be able to take this step into the crypto payment world with both Crypto.com and Cube.”

Custody-Free Crypto Exchange StealthEX to List Shiba Inu’s Governance Token, BONE

Zabi
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Custody-Free Crypto Exchange StealthEX to List Shiba Inu’s Governance Token, BONE

 

StealthEX to List Shiba Inu’s Governance Token, Bone ShibaSwap.



StealthEX, an instant cryptocurrency exchange for limitless swaps, recently organized a Twitter Community Poll to evaluate the possible listings of several tokens on the exchange.

 

In the poll, the leading cryptocurrency exchange has provided the Community with three choices: Revolt 2 Earn (RVLT), RichQUACK.com (QUACK), and Bone ShibaSwap (BONE). The cryptocurrency that will secure more votes will be listed on the exchange. The voting period is scheduled to end on August 6th, 2022 (Saturday).

At the time of writing, the Poll has received a total of 8,747 votes. Bone ShibaSwap is leading the poll by securing more than 74% of the votes as the lead developer of SHIB also urges the Shiba Inu Community to cast a vote in favor of BONE.

QUACK stood at second position and received a share of 15.2% votes, whereas RVLT managed to secure the third spot with 10.2% votes.

Bone ShibaSwap is gathering a lot of attention from not only investors these days but also from reputable exchanges as its value has shown a staggering growth in the past 7 days.

The governance token of the Shiba Inu Ecosystem pierced through a psychological figure of $1 and is now up over 77% over the last week. At the time of writing, the price of Bone ShibaSwap is trading at $1.13, showing an increase of 27% over the last day, with a 24-hour trading volume of $24,722,594 ($24.72M).

Headquartered in the Cayman Islands, StealthEX is a custody-free cryptocurrency exchange for limitless swaps. The exchange enables users to exchange over 450 cryptocurrency assets without registration or fees. To make this possible, StealthEX has partnered with multiple well-reputed exchanges like Binance, Huobi Global, KuCOin, and HitBTC.

Bitcoin Continues To Range As Whales Remain On The Sidelines

Mark Brennan
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Bitcoin Continues To Range As Whales Remain On The Sidelines

 

While there is room for a further price correction, there is no selling pressure.



A CryptoQuant article released today reveals that the Bitcoin market remains fairly quiet as whales have chosen to remain inactive.

According to the article, Bitcoin shot above its realized price with a very high volume following the Fed rate hike last week and Fed chair Jerome Powell’s comments, noting that for it to drop below the closely watched metric, a similar volume would be required.

While CryptoQuant admits the market has room to dip further, judging by moving averages, they note that two key indicators for selling pressure remain fairly low. First, according to the analytics firm, since the Fed decision, Bitcoin inflow to exchanges has remained low, and in addition, long-term holders are holding on to their bags.

It is worth noting that Bitcoin has had a rough nine months, dropping over 70% from its highs in November. This decline has been attributed to a hawkish Fed, a situation further worsened by the collapse of certain blockchain networks like Terra, eroding trust in the ecosystem.

Notably, CoinShares on Monday reiterated the belief that they expect Bitcoin’s recent streak of poor price performances to be short-lived. According to the firm, the Fed would soon start back peddling on its rate hikes in the face of a looming recession. In addition, CoinShares predicts that investors would run to safe-haven assets like Bitcoin in the face of a weakening dollar.

Meanwhile, CoinShares is not the only firm that believes the downturn will soon be over. In its insights released in July, Grayscale revealed that there are just a few months left in the current bear market.

While many of these are optimistic, there have also been those who have called for caution in the markets in the short term. For example, experienced trader Justin Bennett last month warned that Bitcoin could still dip below $10k as the crypto markets have never faced such conditions before, warning that previous bear market patterns may not be relevant anymore.

It is worth noting that, as CryptoQuant highlighted, the crypto markets are now beginning to react more positively to US economic news. Bitcoin notably rose by nearly 10% following the Fed decision last week. At the time of writing, the leading digital asset is trading just above the $23k price point, up 0.51% in the last 24 hours but down 2.20% in the past seven days.

Bragar Eagel & Squire And Pomerantz LLP Files Lawsuit Against Coinbase

Mark Brennan
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Bragar Eagel & Squire And Pomerantz LLP Files Lawsuit Against Coinbase

 

Coinbase Exchange Facing A Series of Lawsuits.



Several Lawsuits Have Been Filed Against the U.S cryptocurrency exchange Coinbase.

The cryptocurrency trading platform Coinbase Inc. in the United States faces many legal challenges. Yesterday, a legal firm in New York called Bragar Eagel & Squire made the announcement that it was going to sue Coinbase for making fraudulent representations about its business practices. Pomerantz LLP has also filed a complaint against the exchange, alleging that it is entitled to collect damages caused by the defendants’ breaches of the federal securities laws and to seek remedies. This litigation was initiated to recover damages.

In both suits, plaintiffs claim that the defendants made false and misleading claims about the Company’s business, operations, and compliance practices during the Class Period. Specifically, the suits stated that Coinbase failed to disclose that since the company stored client cryptocurrency in escrow, that cryptocurrency may be considered part of a bankruptcy estate, rendering it subject to bankruptcy proceedings in which Coinbase’s customers would be treated as the Company’s general unsecured creditors.

Furthermore, Coinbase refused to disclose that it enabled American citizens to exchange digital assets that—Coinbase understood and blithely ignored—required SEC registration as securities.

The preceding actions increased the likelihood that the company would be investigated by or face legal action from government agencies, yet it refused to disclose that. Thus, the Company’s public representations were always, to a considerable extent, false and misleading.

SEC and Coinbase

This comes after the SEC voiced its suspicions that Coinbase has been claiming to operate as an unregistered securities exchange, which is invalid. 

Coinbase has been involved in a number of litigation and controversial situations in the past. According to Bragar Eagel & Squire, the share price of Coinbase (COIN) dropped by more than 21 percent when news broke about the company’s interactions with the Securities and Exchange Commission (SEC).

Coinbase CEO and founder Brian Armstrong said:

“We should have updated our retail terms sooner, and we didn’t communicate proactively when this risk disclosure was added. My deepest apologies, and a good learning moment for us as we make future changes.”

FlokiFi Locker Protocol Gets Massive Exposure As RadioShack Lists Floki Inu

Zabi
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0
FlokiFi Locker Protocol Gets Massive Exposure As RadioShack Lists Floki Inu

 

Floki Inu (FLOKI) Partners with RadioShack to Use the Newly-Released FlokiFi Locker Protocol.


RadioShack Swap added support for Floki Inu. Floki’s first-ever partnership with RadioShack to boost the adoption of the newly-released, innovative crypto locker solution FlokiFi Locker protocol.

 

FLOKI is listed on the RadioShack platform with an aim to create a liquidity pool of $400,000, allocating $200,000 worth of FLOKI tokens from the Floki treasury and pairing these tokens with RADIO tokens. This pool will then be locked/burnt with the FlokiFi Locker.

Formerly, FLOKI teased the community with the launch of its first-ever utility protocol using the codename “Project L.” On July 31, FLOKI unveiled the curtain from the “Project L” secret and announced that it had launched a secure and innovative crypto locker solution, FlokiFi Locker, that allows crypto project developers and individuals to quickly and securely lock Liquidity Pool (LP) tokens, NFTs, and fungible tokens.

RadioShack is a U.S.-based popular retail corporation with 100 years of experience that recently pivoted into crypto with a strong focus on DeFi and an ambitious goal of dominating the DeFi industry. RadioShack is widely recognized in over 190 countries. At its peak, the global brand owned 4,300 stores and more than 2,000 independent franchises in North America, Latin America, the United Kingdom, and Australia.

Dogecoin Releases LibDogecoin Upgrade, Doge Can Now Be Integrated Into Different Platforms

Mark Brennan
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Dogecoin Releases LibDogecoin Upgrade, Doge Can Now Be Integrated Into Different Platforms

 

The Dogecoin Foundation Has Finally Released Its C Library  LibDogecoin.



Dogecoin has just made an announcement stating that they have finally released version 0.1 of its C library, which is called Libdogecoin. According to the company, Libdogecoin is a comprehensive implementation of the Dogecoin Protocols. It is a programming library (and series of bindings to common languages) that enables anybody to create a Dogecoin-compliant product without having to worry about the underlying nuances of the crypto functions.

Michi Lumin Dogecoin Core Developer made the announcement.

 

It is essential to keep in mind that Libdogecoin will not provide a ‘runnable’ node facility; rather, the company said it would operate only as a library. It is planned for the process of combining the individual components into a single engine to take place at a higher level via the use of the networking libraries provided by the host language.

In terms of why it was made and what it accomplishes for Dogecoin, the firm behind it has said that it hopes to increase the community’s capacity for innovation by making Dogecoin’s fundamental functionality accessible as a simple C library with bindings for various languages.

In related developments, just recently, Dogecoin announced the launch of a new tool, Dogepedia, which will be used in the fight against Dogecoin FUD. Dogepedia is an exhaustive database covering all aspects of Dogecoin, including instructions and frequently asked questions. However, in contrast to Wikipedia, the contents are not created by users, and they cannot be altered by any user, thus maintaining the accuracy of the information.

Each topic is broken out into its own subheading, such as “Dogecoin Basics,” “Wallets,” “Using Your DOGE,” “Community and Ecosystem,” “Running Nodes,” “Mining,” “Development,” “How-to…,” “FAQ and FUD,” and so on. Each section includes a number of links that provide further information on the subject matter.

Coinbase’s New York Customers Can Now Trade 9 New Tokens

Lele Jima
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0
Coinbase’s New York Customers Can Now Trade 9 New Tokens

Coinbase’s customers in New York can now access new trading support available for a few tokens.

It’s a good day for Coinbase users as the crypto exchange announces a new provision that lets New York residents trade in a selected group of crypto assets. 

The asset management arm of the exchange sent out a tweet announcing the new development. 

According to the announcement, the new tokens available on the platform include GTC, MASK, UPI, XTZ, CTSI, RAI, IOTX, TRB, and WCFG. 

However, Coinbase aims to first make available the new offerings to its New York customers. The exchange may plan to expand the offering later this year. 

The Facility

According to its official website, Coinbase prides itself as being the easiest crypto platform to buy, trade, or sell crypto. In that case, New York residents who wish to deal with the new list of tokens can now buy, trade, or sell them on the platform. 

Coinbase is the largest crypto exchange by trade volume in the United States. It supports portfolio management, recurring purchases (daily, weekly, or monthly), vault protection with delayed withdrawals, and platform access via mobile apps on both iOS and Android devices.

The move comes moments after Coinbase issued a clarification that it doesn’t support trading of tokens deemed as securities. This came after the U.S. Securities and Exchange Commission (SEC) accused the exchange of doing so. 

However, the accusation may have been triggered by a former Coinbase employee who was caught engaging in insider trading. The SEC filed a case against the culprit, and the exchange distanced itself from his illegal actions.

How to Access The Trading

Expounding on the new development, Coinbase directed users who wished to deal with the listed tokens to update or refresh their apps to access the new facility. 

Despite Ripple’s Legal Woes, Binance Card Adds Support For XRP For Payments

Albert Brown
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0
Despite Ripple’s Legal Woes, Binance Card Adds Support For XRP For Payments

Binance has announced that it has added Ripple (XRP) to the list of supported cryptocurrencies on the Binance Card. 


 

According to the world’s largest cryptocurrency exchange by 24 hours trading volume, the initiative will commence today at 07:00 (UTC). 

With the addition of XRP support on the Binance Card, Binance now supports a total of 14 cryptocurrencies, including Shiba Inu (SHIB), Cardano (ADA), etc. 

Binance Card is a payment solution launched by Binance, allowing cryptocurrency users to spend their crypto assets with merchants across various parts of the world. The payment solution supports real-time crypto-to-fiat conversion. 

A Binance card is linked to a user’s Binance account. It is a Visa debit card that allows users to spend crypto anywhere that Visa is accepted. The card had to be pre-loaded with crypto before using it as it is a regular debit card.

Following the announcement, Binance Card users can now use the sixth-largest cryptocurrency by market capitalization to make payments. 

“To spend the newly supported cryptocurrencies with Binance Card, please go to Card Dashboard > Payment Priority > Edit to add, remove or rank cryptocurrencies for spending according to your preference,” Binance said in a statement. 

The development comes at a time when Ripple is currently facing security charges in the United States. 

According to Binance, there are a few rules to be adhered to by Binance Card users. At the moment, Binance Card is only available to users in EEA (European Economic Area) countries as well as Ukrainian refugees living in those countries. Also, users must have six priority tokens on their Binance Card, with the max number being 12 token choices.

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